Property Overview & Key Characteristics
This one-and-a-half storey home at 994 College Avenue is a classic post-war property built in 1948, situated on a notably spacious lot for its Burrows Central neighbourhood. Its primary appeal lies in its land value and location. With a living area of 840 sqft, the house itself is compact, presenting a potential opportunity for expansion or renovation, or simply offering a manageable footprint for minimal upkeep. The detached garage and lack of a basement are key practical features.
The property would best suit a value-focused buyer looking for a solid entry point into homeownership, an investor seeking a land-hold opportunity, or a hands-on individual interested in a home with clear potential to increase its value through updates. Its well-above-average lot size for the area offers a tangible asset that newer homes in this price range often lack. A less obvious perspective is that this home represents a specific era of Winnipeg's development, offering a simpler, more efficient layout that may appeal to those looking to downsize or reduce their living space without moving to a condo.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
This is typical for older, smaller homes in established neighbourhoods. The assessment reflects the current property characteristics and recent sale prices in the immediate area, not the city's overall market which includes newer, larger homes.
2. What does "one-and-a-half storey" mean for this house?
Typically, this style features a main floor with principal rooms and a second floor under sloping roof lines, often containing smaller bedrooms or finished attic space. The exact layout should be verified by a viewing or floor plan.
3. Is the small living area a major drawback?
It depends on your needs. For a single person, couple, or as a starter home, it can be manageable and efficient. The generous lot size provides outdoor space that can effectively extend the living area in warmer months.
4. How does having no basement affect utility and storage?
It eliminates flood risk and moisture issues common in basements, but requires alternative solutions for mechanical systems (furnace, water heater), laundry, and storage. The detached garage may offset some storage needs.
5. The home sold for $11,500 in 2019. What should I consider?
That sale price, significantly below the current assessed value, is a historical data point. It indicates a likely distressed sale, major fixer-upper condition at that time, or a non-arms-length transaction. It underscores the importance of a current home inspection to understand the property's present condition and any changes made since.